How To Get A Real Estate License? And Should I?
Getting a real estate license is a fairly simple process. Most states have the following criteria in order to get your real estate license:
- 18 Years of age or older
- Take schooling Online or Class Room for Pre-Licensure
- Pass In Class Exam
- Background Check / Approval
- Pass the state exam
- Sign up with a real estate broker / brokerage
- Sign up with your local real estate board
Before getting your real estate license
Let’s give some food for thought. I am a Florida Real Estate Broker and have seen a lot of success and a lot of failure in this industry having trained and worked with hundreds of real estate agents. It takes a certain amount of guts, sacrifice, money and a lot of productive time implemented to be a success.
So before moving forward on how to get a real estate license, I encourage you just to ponder and even write down some of your thoughts to the following 3 questions as this may motivate you to “burn the boats and take the island” as Tony Robbins always says… Or this may provide a reality check on maybe this isn’t the right time or right move for you right now.
If you want to take the Island Burn the Boats!
The first time I saw Tony Robbins live, I was mesmerized! This guy’s passion and energy is unbelievable. If you have the chance to see him live, do it! So this phrase he states countless time simply means, NEVER go back to your plan B or safe zone.
Example – You work in the Healthcare system. You get your real estate license and go full time. However, in the back of your head, you keep telling yourself, everything is going to be OK as my boss said I can come back to work at the hospital anytime.
This is the thought process that will destroy your success. Check out this incredible book by Tony Robbins – Awaken The Giant Within.
Why are you looking to get your real estate license?
What’s your WHY? Do you want to make more money? Do you want financial freedom? Do you want to spend more time with your family? Do you hate your job or boss and want to be your own? What is it? Write it down and look at it every day.
**NOTE – I have been writing my goals down with printed colored pictures added in a simple book that I look at every day for the last 7 years now. With exception to the new goals added, I have been able to acquire every goal in there including Financial Freedom.
Are you willing to sacrifice in order to get your real estate license?
Sell your house. Yes, this has been my advice at times to certain real estate agents in our organization in order to strategize financially in order to move up faster and create that freedom they so desire. But… Do you have the guts to do something like this?
You want to spend more time with your family but maybe your first 24 months in real estate you are working day and night 6-7 days a week with limited time with your family. These are the sacrifices that successful real estate agents will do in order to make the future for their families great.
Getting your real estate license and not having a boss overseeing you?
Will your excuses, complacency, and laziness dictate your day to day schedule? Trust me… I reside in SW Florida and live on the beach. It is very easy for me to take any day and relax in the sands of the Gulf of Mexico. However, I keep a disciplined schedule to ensure my income producing activities are on point and thriving.
You may want to consider a coach to hold you accountable and keep you on track.
How much does it cost to go to get your real estate license and real estate school?
This depends. Many states will have both online and classroom offerings. In Florida you have to have 63 hours for your Prelicensure Course. Classroom teachings are traditionally more expensive than online and the range for both are around $200 – $500.
I highly encourage you to reach out to other real estate agents and ask them where they attended and get feedback. I got my real estate license when I was 20 years old and didn’t bother doing any research. I went with the first real estate school that I came across.
Well. What a mistake. I spent more time daydreaming due to the monotone instructor’s voice which resulted in having to take the state exam twice. Or maybe just my laziness at the time… Either way, there were better schools out there like Real Estate Express.
So do your research upfront and you will Save time and money…
Low Cost of Entry Getting Into Real Estate
Just a quick note. This is one of the very FEW businesses that you can get into that will cost you less than one month’s worth of rent. With the ability to make some tremendous money. Tell me what other business can you get into under $1,500 and make six to seven figures a year without buying any product?
Network opportunities in your the real estate class
If you decide not to do the courses online and rather classroom, then this will be an opportune time to network with other like-minded
agents. Maybe they have already decided on a brokerage to go to work with. You can get feedback from them on why they chose that company. You also may do future business with them.
This is an opportunity for open quorum to learn from the instructor and even others in the class. Many times there will be real estate veterans in your class from another state who moved to your state. You never know as it could be an opportunity to gain a mentor in the business. Do not be afraid to ask.
Do I have to pass a test to get a real estate license?
Yes. You will have to pass the real estate school exam as well as the state exam. CAUTION! The classroom exam is traditionally much much easier than the state exam! In many states, you will need a 70% pass rate for the school exam.
This leads to the next. You will have to apply for the state exam after you have met all the qualifications below. You will have to pass this exam with a 75% or higher in the state of Florida. Again be sure to do your research and pick the right school to assist you in passing the first time.
What is the pass rate for the real estate exam?
It is estimated in Florida the real estate prelicense pass rate is around 50%. I am going to assume that is maybe close to the national average but not sure. Either way, study hard. I used index cards and that really helped the second time around. Also, it will cost you anywhere around $40 – $100 each time you need to take the exam.
The state exams generally will change from month to month, year to year. The authors will manipulate the questions to ensure you have a thorough understanding of the content. They make it fairly difficult but if you studied and internalize the content you will be fine.
What Qualifications Do I Need to get a real estate license?
- Must be 18 or 19 years old with a GED or High School Degree.
- A Legal US Residency status.
- Pass Background Check – You will be required to fill out an application with your state, submit fingerprints and pay a fee generally $20 – $50). The approval process usually takes 10-30 days for approval. So do this right away!
** This may vary from your state.
What do I do now that I passed my real estate exam?
Go celebrate! You now have the opportunity to make six to seven figures annually selling real estate!?! There are real estate agent machines out there making millions of dollars every year with the same exact piece of paper that you have in your hands! Now it is up to YOU to do something with it.
You are in control of your destiny!
Find A Great Real Estate Broker!
You are going to now need to find a real estate broker to work under (most states). Check out the article on 7 Strong Tips On How To Choose A Real Estate Broker to give you some tips and a FREE download of broker questions to bring on every interview.
Sign Up with Your Local Real Estate Board
Assuming you will be selling residential real estate you will need to invest into your local MLS system. This will get you the REALTOR® designation and give you access to all the active inventory in your area as well as the Supra Key to access agent’s listings. The cost for our local board in Florida is around $900 per year.
This is a great designation as well. The reason is The National Association of REALTORS® markets heavily on why choosing a REALTOR® is the smart choice when buying or selling real estate as we have stricter ethics to follow and more education. At the end of the day, you do not have to be a REALTOR® to sell real estate. However, most real estate brokers are signed up with local boards and you too will be required if your broker is affiliated with a board.
Really the only 2 other times where you are just a Sales Associate and not a REALTOR® is when you are a referral agent or a Commercial Broker.
When you become a REALTOR, be loud and proud of it. Be sure to market yourself. I have even made tens of thousands of dollars on a simple border license plate for under $14!! ABM – Always Be Marketing. You will be surprised on simple marketing techniques can lead to eventful conversations.
Please click through all of our articles to get some very useful tools and resources that will help you make it big in this business! ** Information in this article will vary some from state to state.